Industry News

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NEWS INDUSTRY NEWS MAR 22, 2010
Raymond James' Jeffrey D. Saut: 'I should have!'

The equity markets seem to be worried about neither deflation nor inflation as gold, and crude oil, are relatively flat and the preopening S&P 500 futures are better by some 4 points.

By Jeffrey D. Saut
NEWS RETIREMENT PLANNING MAR 22, 2010
AllianceBernstein beefs up target funds

With regulators and lawmakers continuing to scrutinize the blowup of target date funds in 2008, AllianceBernstein LP is adding a component to its lineup of target date funds aimed at managing market volatility better.

By Jessica Toonkel Marquez
NEWS INDUSTRY NEWS MAR 22, 2010
JPMorgan's David Kelly: What to look for in the week ahead

The week ahead should be relatively quiet across a number of fronts.

By David Kelly
NEWS BROKER DEALERS MAR 22, 2010
GunnAllen to be bought by Progressive Asset Management

Firm to be acquired by socially conscious investing shop; combined broker-dealers in top 30 of independent B-Ds

By Bruce Kelly
NEWS LIFE INSURANCE AND ANNUITIES MAR 22, 2010
AIG makes key hires and sells more assets

American International Group Inc. recently made several high-level appointments and agreed to sell some assets, but recruiting talent and repaying government debt will remain challenges, according to experts.

By Colleen Mccarthy
NEWS BROKER DEALERS MAR 22, 2010
Embattled GunnAllen loses top-producing branch

By Bruce Kelly
NEWS INDUSTRY NEWS MAR 22, 2010
Beleaguered Broker-Dealer GunnAllen loses top-producing branch

Embattled broker GunnAllen Financial Inc. has lost a top-producing branch — the broker-dealer's first major defection since the abrupt resignations in December of its holding company's chairman and chief financial officer.

By Bruce Kelly
NEWS INDUSTRY NEWS MAR 22, 2010
Druskin named interim CEO at E-Trade

Brokerage firm E-Trade Financial Corp. said Monday it has named director Robert Druskin to take over as chairman and interim CEO when Don Layton retires at the end of the year.

By Associated Press
NEWS RIAS MAR 22, 2010
RIAs' mental health and finances suffer as regulatory changes and the downturn take a toll, survey shows

Registered investment advisers are deeply concerned about new regulations and are sensitive to the impact of the financial downturn on their personal lives and finances, but they remain surprisingly upbeat about their jobs and their outlook on the economy, according to a new survey.

By Jed Horowitz
NEWS INDUSTRY NEWS MAR 21, 2010
Forum Financial merges with Pinnacle Wealth Management

The combined firm, which will operate as Forum Financial, has ten advisers and $500 million in assets under management

By Lisa Shidler
NEWS BROKER DEALERS MAR 21, 2010
Open VA platform at Ameriprise may be less than open

Ameriprise Financial Inc.'s plan to open its brokerage platform to outside variable annuities falls short of the open architecture favored by other independent broker-dealers.

By Bruce Kelly
NEWS RIAS MAR 21, 2010
Client trust: It is yours to lose

More than their friends, portfolio managers or corporations, investors trust their brokers or financial advisers, according to the first annual U.S. Financial Services Trust Barometer, sponsored by the Edelman public relations firm.

By Libby Dubick
NEWS INDUSTRY NEWS MAR 21, 2010
KKR's diversified-manager goal not yet within reach

Kohlberg Kravis Roberts & Co. is on its way to becoming a fully diversified money manager, but it looks like it will be a long trip.

By Arleen Jacobius
NEWS INDUSTRY NEWS MAR 21, 2010
Dive into dividend investing to get best long-term returns

Dividend investing is one of the best long-term investment opportunities out there, and it looks particularly alluring right now.

By Jeff Benjamin
Raymond James' Scott Brown: Existing home sales have potential to surprise
NEWS INDUSTRY NEWS MAR 19, 2010
Raymond James' Scott Brown: Existing home sales have potential to surprise

Unlike the numbers for January, any data showing lackluster home sales in February can't be fobbed off on the weather

By Scott J. Brown
NEWS INDUSTRY NEWS MAR 19, 2010
Judge tells 'free-riding' website to delay posting brokers' stock picks

Theflyonthewall.com gets zapped in federal court. That's no doubt good news for Merrill Lynch, Morgan Stanley and all the other firms that sell research to clients.

By Associated Press
NEWS RETIREMENT PLANNING MAR 19, 2010
Alabama's 529 plan dumps Van Kampen

State decides to go with Union Bank and Trust, instead

By Bloomberg
Obama looks to crack down on abuses in 401(k) advice biz
NEWS RETIREMENT PLANNING MAR 19, 2010
Obama looks to crack down on abuses in 401(k) advice biz

A new proposal targeting tainted investment advice would affect millions of workers.

By Associated Press
Insurers pan Obama's proposed tax on investment income
NEWS LIFE INSURANCE AND ANNUITIES MAR 19, 2010
Insurers pan Obama's proposed tax on investment income

The American Council of Life Insurers today blasted a newly floated tax proposal on unearned income — part of a series of suggested changes to the Patient Protection and Affordable Care Act of 2009.

By Darla Mercado
Prospecting for clients? Try beer
NEWS RIAS MAR 19, 2010
Prospecting for clients? Try beer

Investment adviser Richard Feight admits he's not very good at brewing beer, but he's found that the hobby helped him build business connections and network with clients.

By Lisa Shidler